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  • Luuk Jacobs
    Luuk Jacobs

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    Have your say: Investment Management, Fintech and the future of careers

    The survey is now closed - thanks to all who participated. Keep an eye out for the results on AlgoMe Community soon.

     

    With Investment Management being increasingly impacted by the growth of FinTech, the industry needs to better understand how people feel about these changes. 

     

    We would appreciate you completing our short survey, and sharing it with your friends and colleagues. We will publish the results in the community in the near future.

     

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    If you have any issues you can also complete the survey here

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    Andy Milner

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    Our survey is going to be closing soon, so if you haven't had the opportunity please spend a couple of minutes to make sure your voice is heard. Thank you!

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  • Our picks

    • With the decorations up, the last order date for Amazon nigh and most of us looking forward to at least a few days break, it’s always a good time to take stock of what’s been achieved over the last 12 months.
       
      For AlgoMe this has been another exciting year.
       
      January started in style with the launch of the AlgoMe Careers mobile app – giving professionals the opportunity to find their next career opportunity on the move.
       
      Then in July we released our Industry Pulse Report – a check on what the industry was thinking about key topics such as Brexit, Pay Gap Reporting, MiFiD II and GDPR. Unfortunately it seems that the uncertainty that the industry was feeling due to Brexit is unlikely to have receded in the intervening period, but it’s good to see progress starting to be made in other areas such as gender and diversity.
       
      In September we launched AlgoMe Community – a place for the Investment / Asset Management industry to come together, providing professionals with ways to grow their knowledge, profile and network. We’d like to say a big thank you to all of the members that have joined and contributed and look forward to continuing growth in 2019.
       
      In November AlgoMe joined the Investment Association, becoming a Fintech member and working closely with Velocity, the Association’s new Fintech accelerator. This is a really exciting initiative and we’re looking forward to doing more with Velocity in the near future.
       
      We also launched our Mentoring matching service in November – designed to help AlgoMe Community members connect with the best individuals within the community to help them to reach their career goals using a simple but intelligent process. If you haven’t already signed up to be a mentor or a mentee, please do spend 5 minutes now and tick off a New Year’s Resolution early.
       
      As we go into the end of the year, we have also launched our survey on Investment Management, Fintech and the future of careers. The impact of Fintech on the industry is going to accelerate rapidly in 2019, but what has been less well documented is the impact on individuals, their careers and the skills they’ll need to succeed in a more digitised environment. We really value the input of our community members, so please spend a couple of minutes filling out the survey and we’ll make sure you’re the first to hear the results early next year.
       
      From me and the AlgoMe team, I wish you all a very happy holiday season and look forward to another year of exciting announcements and change in 2019.
       
      Rob
       
        • Like
      • 0 replies
    • I have always struggled to see a fair reason why employers should be allowed to ask about a potential hire’s current remuneration, other than to give them an advantage in pay negotiations.
      It’s something which can only exacerbate existing pay inequalities and  it’s abolishment can surely only be a positive thing.
      Here the Guardian argues specifically about its impact with regards to the gender pay gap:
      https://www.theguardian.com/commentisfree/2018/aug/23/gender-pay-gap-current-salary-question
      I believe this has already been outlawed in some US states?
      @Jonathan Max - would be interesting to hear the view from HR. 
      • 10 replies
    • The Investment Association recently gave the industry a boost when it announced the launch of Velocity, its FinTech accelerator.  Designed to identify, develop and accelerate best in class firms with innovative solutions, Velocity will champion and facilitate the wider adoption of technology across the industry.
       
      And AlgoMe will be involved in this too, which is why I’m excited to announce we are now a member organisation of the Investment Association as an official FinTech member and have been named a "company to watch" by Velocity.
       
      Challenging Times
      The Investment Management industry faces major challenges and opportunities from forces such as digital technology, pressure on fees and increased regulation, while at the same time there are widespread changes in the workforce and their expectations.
       
      To date, Investment Management has both been fairly insulated from the challenges posed by agile FinTech competitors, but also distant from the opportunities offered by the new technologies and ways of thinking that such companies bring.
       
      Bringing FinTech closer
      Velocity is a fantastic step towards accelerating the adoption of FinTech. It has received support and endorsements from both inside and outside the industry, including from the Chancellor of the Exchequer, Phillip Hammond, who was enthusiastic about the initiative at a recent City event.
       
      To drive change and innovation, the industry needs to connect across different disciplines and areas of expertise, driving new ways of thinking and fostering cultural change.
       
      Without the benefit of emerging FinTechs and their external expertise, it will be hard for incumbents to harness the benefits of emerging technologies such as Straight Through deal Processing (STP), Distributed Ledger Technology (DLT), and Artificial Intelligence (AI) in areas such as risk and compliance, securities trading and investment decision making.
       
      Our Mission
      AlgoMe's mission is to connect the Investment Management industry and empower professionals to manage their careers. Our new product, AlgoMe Community, is placed to become the hub for the discussion between FinTechs and the companies and professionals in the wider Investment Management ecosystem.
       
      Join AlgoMe Community today
       
      AlgoMe Community - community.algome.com
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  • Related Content

    • Luuk Jacobs
      By Luuk Jacobs
      In the last week, after initial waving potential issues with the Boeing 737 Max, the have now worldwide be grounded until more is known about the cause of the crash of 2 of those planes in 5 months. Investigations have shown that the path before crash of the 2 planes were very similar and that there are potential underlying issues with the technology of the plane. Some have quoted that the technology has become too complex and is even not understood by pilot. In the specific case of the Boeing 737 Max the technology/system prevents the aircraft from pointing upwards at too high an angle, where it could lose its lift. However, according to filings with the US Aviation Safety Reporting System, which pilots use to disclose information anonymously, it appeared to force the nose down. Not being a pilot I assume this can only be corrected by human intervention.
       
      So bringing this situation back to the use of Fintech in Investment Management (and yes we can only loose money and not lives), do we understand well enough Robo Advice, AI, Blockchain to fully rely upon. Are they becoming our automatic pilots and who in the case of a nose dive can intervene ?
       
      Think of a scenario of some kind of financial crisis and the impact on index funds. Would the technology used to manage these funds just spiral them to the bottom when prices are going down and investors start pulling money out ? Is the temporary closure of such funds the human intervention of the automatic pilot ?
       
      I would be interested to know from specialists in the field @Christopher New, @Paul Smillie, @Simon Cornwell, @Christian Thomas, @Mark Holmes, @Angela Lloyd-Jones, @Andy Milner
    • Andy Milner
      By Andy Milner
      It will be interesting to hear more about the success (or otherwise) of UK based FinTechs overseas - and also to hear how they are or aren't being impacted by Brexit.
       
      It was interesting to hear that our community partner ClauseMatch is part of a government FinTech mission to Amsterdam this week.
       
      @Christian Thomas - I hope the trip goes well! Is there anything you can share from your involvement in this?
       
      UK Fintech Mission - Amsterdam 13-14 March 2019 |
      UKFINTECH.NL  
    • Jonathan Max
      By Jonathan Max
      Really interesting article from HRB on whether Men and Women needed different kinds of networks to succeed following a study on the networks of male and female MBAs suggests that males being successful in the workforce was largely dependent on being active in a social network where as women often also sough an 'inner circle' in addition to a broader network. 
       
      Would be great to hear what our MBS/MSc members think?
       
      Research: Men and Women Need Different Kinds of Networks to Succeed
      HBR.ORG Results from a study of MBAs.  
       
       
    • Andy Milner
      By Andy Milner
      It's seems only a matter on time before one of the tech giants looks seriously at the Financial Services industry - a discussion that came up in our panel event as Cass the other week.
       
      Here are the results of a survey that asked consumers how likely they were to take a current account from Amazon - the conclusion of the article being that Amazon is a threat to existing FinTechs more than the large incumbents:
       
      An Amazon Checking Account Could Displace $100 Billion In Bank Deposits (But It Won't)
      WWW.FORBES.COM Consumers are more interested in a fee-based checking account (bundled with other services) from Amazon than a free checking account from the company.  
    • Colin Ng
      By Colin Ng
      Chris Skinner, an independent commentator on the financial markets once said, FinTech firms make faster horses but TechFin firms are working with airplanes. Perhaps one of the first technology companies to disrupt the investment management industry is AliBaba.
       
      6 years on from its introduction, AliBaba's money market fund, Yue Bao is still the world's largest at approx $200bn under management (beating JP Morgan's similar fund).
       
      In an age where data is an industry in itself, having a significant user base already which trusts your brand and the means to mine consumer data must surely be a strong starting point to disrupt the industry.
       
      Will other tech giants like Amazon and Google follow suit this year? Perhaps a quicker way would be to acquire other fund managers.
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